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Levi & Korsinsky's Update on ESSA Pharma Class Action

In an important announcement for investors and stakeholders, Levi & Korsinsky, LLP has alerted shareholders of ESSA Pharma Inc. regarding a significant upcoming deadline in a class action securities lawsuit. The lawsuit alleges that ESSA Pharma made misleading statements related to its product efficacy, specifically the combination therapy involving masofaniten and enzalutamide for prostate cancer treatment.

Case Overview

The class action targets those who purchased shares of ESSA Pharma (NASDAQ: EPIX) during the period from December 12, 2023, to October 31, 2024, who experienced financial losses due to the alleged securities fraud. The details of the lawsuit suggest that key claims have emerged against the company which could significantly impact its stock performance and investor interests.

Allegations Against ESSA Pharma

The complaint filed indicates a series of false or misleading statements made by the defendants. Notably, it claims that:
1. The combination of masofaniten with enzalutamide did not offer any clear benefits over enzalutamide alone.
2. Investors were led to believe that this combination therapy could effectively treat prostate cancer, which the company later suggests was inaccurate.
3. The M-E Combination Study was unlikely to achieve its predefined primary endpoint, casting doubt on the touted prospects of the combined therapy.
4. Overall, ESSA had overstated its product's clinical, regulatory, and commercial potential.
5. These misstatements materially influenced investors’ decisions during the enticing yet deceptive period.

Important Date to Remember

For those adversely affected, it’s crucial to note that the deadline to file for lead plaintiff status is March 25, 2025. Filing by this date will enable distressed investors to request consideration for appointment as lead plaintiff in the litigation.

No Financial Risk for Participants

Potential participants in this class action lawsuit should be aware that there are no out-of-pocket costs associated with claiming potential compensation. ESSA Pharma investors participating as class members could receive compensation without incurring costs, making this an accessible option for those impacted.

The Role of Levi & Korsinsky

Having spent over two decades in the field of securities litigation, Levi & Korsinsky has successfully secured hundreds of millions for shareholders in previous cases. Their notable expertise and a track record of success makes them a leading firm in this area, often recognized in top rankings for securities class action firms in the United States.

Contact Information

For more information on the lawsuit and initiation of claims, interested parties can reach out to Joseph E. Levi, Esq. at Levi & Korsinsky via email or phone.

• - Email: [email protected]
• - Phone: (212) 363-7500

Conclusion

As the March 25 deadline approaches, it serves as a reminder for affected ESSA Pharma investors to pursue their rights in the class action lawsuit. With credible representation and a solid understanding of the litigation landscape, investors can navigate this challenging period more effectively.